2012-12-01
2012-12-31
x michigan

STATION
CSPAN 27
CNBC 18
CSPAN2 18
CNNW 17
MSNBCW 16
FBC 12
COMW 8
KTVU (FOX) 7
KQED (PBS) 6
KGO (ABC) 5
KQEH (KQED Plus) 3
KRCB (PBS) 2
KBCW (CW) 1
LINKTV 1
( more )
LANGUAGE
English 186

Set Clip Length:


to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens, as well. i'll give you more on how that compares to where we closed yesterday. so the two-year, that's the low where we were yesterday. 10-year spanish yields, 5.581%. two-year yield, 2.35%, kind of where we were yesterday, too. and they're continue to go appreciateslide slightly from yesterday's close. as far as currency markets, 1.2880 was the two-week low on

happy about what is happening in europe. german stocks are soaring. is it too late to get in? > > we saw the dax push up to a 52-week high last week. really the key here is safety. they are using that stock market as their safety gauge if they are trading over in europe. so, if the safety play continues to warrant being ultra- conservative, yeah, you are going to see that market continue to move upward. if traders want to take on a little bit more risk and spread to some of the other european sovereign-debt nations like spain or greece, then you are probably going to see that safety play back off a little bit. > there are always places to park money. good to have you on the show this morning. have a great trading day. > > you too. if you're not yet fully awake this monday, here's one thing to open your eyes: after years of higher and higher coffee prices to consumers, brazil, which produces a third of the world's coffee, may turn prices around. a record crop there last year is being followed by another bumper crop. our cover story takes a look at what it means for coffee futures and reta

's what is scary. the backdrop of the presidential year was europe. we know where this path leads. all this turmoil, the huge welfare and the low productivity and high unemployment that comes along with them, that was the backdrop of the presidential campaign. voters voted, and they said, yes, we are going to keep moving in that direction, kim. where do you think the electorat is here? is it be ibd hue the choices that -- is it behind the choices that jason suggested they might be? >> barack obamaus won this election by very effectively making this a referendum about his opponent, mitt romney. if you went out and asked most americans, do you think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a president who said things aren't great, but i'm going to still try to make them better, and a guy who he painted as not having a plan and not identifying with the average wants and needs of most middle class ame

politics and compromise. everyone knew about the growth. just like in europe. means it could be, in fact, reduced dramatically. fewer jobs, larger deficit. not smaller. and the federal reserve that's throwing up its hands, can't do anything. as i said last night, it doesn't matter. we can pick our stocks and buy them down. like the fabulous names, amazon, ulta salons. buy them down in scales like i outline in the book "real money." now suggesting other groups giving you a bang for the buck. new groups betting that the hope will be squeezed out and the bottom gets put in before a deal is made -- or not. why not? we know the auto market is for 11 years now and we have been sweet on ford domestically. before sandy. where are we internationally? europe. what are some of the other key area, though? i think latin america, though. i think it's coming back. asia already turned. here's the new piece of data. i think europe could be stablized. ford is the one to watch. you get that thing at 11 or blow. i'm out blessing it. haven't done that in a while. in europe i'm thinking that i'm sanguine. exc

. the intermediate nuclear forces treaty, or inf, led to the destruction of thousands of europe-based nuclear missiles on both sides. speakers here will include former assistant secretary of state richard burt, former u.s. ambassador to the soviet union, jack matlock, and will also there from former assistant secretary of state rozanne ridgway. the american foreign service association posted this hour and 20 minute event. >> i would like to wish all other good morning. one. i'm susan johnson, the president and i would like to extend a very warm welcome to you all. and thank you for coming to this important and special panel discussion. and also celebration of the 25th anniversary of the signing of the historic treaty. special thanks of course go to our panelists and our moderator, ambassadors matlock, ridgeway and bert, for sharing their experiences and reflections surrounded the complex negotiations that led to this treaty which was a significant factor in reducing dangers of the cold war. i'm sure you know all of these three imminent folks but i would just like to say a quick word. about th

hikes, europe's grand experiment with taxing the rich more is falling apart, especially in france and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent pr

on ford domestically. what are some of the other key areas. asia already turned. i think europe could be stablized. ford is the one to watch. i'm out blessing it. in europe i'm thinking that i'm excited about ford. we have ample evidence today that i'm right. the rates remained too low. and pricing is moving up in california, nevada, arizona all things we learned from the luxury home builder toll today. that is fine. but what i hadn't heard is a demographic play, how the demographics are going to take over. household formation is unnatural and because of the great resection. well, from the delay of creation of new families, which is highly unusual, what makes that so special? the fiscal cliff could be a big deal. i'm going to put it in an amusing way, it is the need to get out of your mother in law's house. pretty intuitive concept when you think about it. we have a break here. because the market is so darn tough. and that could be your chance for the analysts. here is the bottom line. we need hope to be van switkwis. he so that it is so negative. have them leave the room. and we can

? it is africa. the route is from south america to africa, to europe. where is the new al qaeda organizations? where are they budding? where are they really being troublesome? witness benghazi, northern and western africa. that's where we fear al qaeda is taking root. what is the biggest fear? biggest fear is al qaeda northern africa and western after africa will become drug dealers. part of that cocaine movie in south america to europe getting the proceeds and thereby funding their terrorist activity. jump cut to this case involving these three men from maly. operating in maly and ghana. our d.n.a. informant contacts one of the local thugs who is said to have some association with al qaeda and says hey, guy, i have got a coke deal. i have got to get cocaine, tons of cocaine from south america here to maly and guana and south africa and up to europe. you al qaeda help me. you al qaeda will become part of my drug empire. >> operation. >> so what happens is the guy was not an actual drug dealer. he was a sting, a dia operator. the main contact point the guy thought to have some communication wi

the difference between the u.s. and europe has produced almost no innovation. we produce almost all of it. we pulled their growth rate up because of the success in the united states. >> eliot: jeff, i'll get to you in ten seconds. if taxes were 100%, people would theoretically sit at home. when we're talking about a rise from 35% to 39% -- >> they sit at home in europe. >> eliot:, here we have a database to say what has happened when we move them marginally from 35% to 39.6%. they were created when the rates were at 39.6%. i don't see the causation. >> i think your viewers have to be very aware of the nature of these academic studies. there have been leading economists who have looked at this inside and out. the congressional research service, i believe was asked by the republicans to take that down. they cannot find a correlation between higher tax rates and slower economic growth. just let me finish, okay? clinton raised the tax -- people like feldstein and barro to do the arithmetic will undermine economic growth, be pr

of the things that has happened since 1989 is the region called eastern europe has become very differentiated. these countries will longer have anything in common with each other except for the common memory of communist occupation. >> more with anne applebaum, tonight at 8:00 on a "q&a." >> "washington journal" continues. host: for the latest in the so- called fiscal cliff negotiations, we are joined by stand from -- stanley collender, and we also have josh gordon. thanks to you as well. stan, you were on last week and we ask you for the percentages. you put the chance of a fiscal cliff getting done at. this week? -- gettguest: i think there is o chance other than new year's day, and even that might be overstating it a little bit. right now i am seeing a 75% chance that they will go over the cliff. host: joshua, what odds would you give? caller: i have no idea. i would say that it could be 50 -- guest: i have no idea. i would say. the thing that americans and the public should worry about is whether they get something done soon. there is a chance that by inauguration day, something will be d

the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look a

. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had thi

. there is a terrible economy with 26% unemployment highest in europe, almost no job opportunities for young people frequentenly lead toro riots in the streets. here is leading democrat is suggesting cutting spending too quickly is a real problem. >> the european community now is concerned about all the austerity. there are many, many things you can do to reduce debt. but still have a stimulus aspect of the economy. >> experts though say europe's us aer the city a drag on the economic growth because it relies too much on taxation while failing to reign in the expansion of government. that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the p

to happen in europe, and we don't know what's going to happen in greece and we don't know what's going to have in the euro zone and the energy needs in china and india and industrialized nations. what do you think is the biggest threat from the outside to the u.s. economy? >> the fiscal cliff. first of all i think there are issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that we have at the moment is really here with us and that can be addressed. >> but when you look at, i mean i understood that the european banks had sort of downsized or downgraded what they thought would be growth. you've got more than 11% unemployment in the euro zone, which is a good deal higher than here. >> yeah yeah. >> are those

conference in just a few hours. as for europe, some green arrows, despite a miss in the eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high -- new high-resolution set. microsoft trying to widen the list of retailers that will carry the surface tablet. the fed is going to wrap up its two-day meeting. a watch is on to see if ben bernanke and policy makers make a decision about the interest rates. later on, the chairman will hold a news conference, and of course, cnbc, will bring it to you live. coverage beginning at 2:00 p.m. eastern. jim, a lo

fitness award, it ain't going to happen unless i am living in europe when there is precedent when the entire european union accepts the nobel peace prize. i am serious, they are serious, the same folks who brought you riots they could not stop and protests they could not control, and now they are winning a nobel peace prize that has to be unbelievable for a union that is going off the we rails and a currency that threatens to go off the abyss to former u.k. member of parliament john brown who is going out of his mind. i cannot believe this, but, yet, when i first heard it announced, it really happened. >> yes, you are absolutely right. when i was a nato soldier myself and when i was a member of parliament i was on the political arm of nato which was the north atlantic assembly and it was clear that it was nato particularly with the american and british nuclear deterrence that kept the peace and that extended through a circle around the ussr and margaret thanker made me the escort for gorbachev and it was clear that president reagan's strategic defense initiative brought them to th

. the eu was honored for promoting peace and human rights in europe. >> the european project has shown it is possible for people and nations to come together across boarders. >> hundreds of people outraged by the eu being awarded protested. they say they are unfit for the honor. >>> coming up, what gmail is blaming for it is e-mail outage this morning and facebook is going forward with policy changes. and the latest on the condition of nelson mandela who was hospitalized over the weekend. oh, you have a keurig vue brewer? oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keurig vue. because we know how much you do to make the holidays just right. from ornaments to ottomans, memories are made with ikea. >>> a lot of gmail users were left in a lunch this morning. google says it was a glob

, but from europe, from the central bank there, as well as from china, don't forget, so we've had this liquidity which has taken asset prices with the stock market and the bond markets, pricing it way up, it is actually helping housing after a long wait. moving into the future, there will be some duction in relythe fear that people have. it is not only a lack of confidence, but it is a fear of things going wrong. as we get day to day, i think the fed has been the only place in town to inject some optimism or feeling somewhat better in the general public, as well as in business. until we get through this silliness in washington, i think people will continue to be cautious. >> susie: speaking of that caution and fear, what should investors be doing with their money. so many of them, not only individual investors, but professional investors are sitting on a pile of crash. ldof o invest? what is your investment strategy? >> people, the viewers right now, many of them have been out of the stock market for an extended period of time, because of all of the craziness of the last decade. i

of war. two decades ago, with all eyes on europe, the united states prematurely celebrated victory over communism and an end to the cold war but in 1989, the same year the berlin wall fell, tanks roll spood tiananmen square crushing in a bloody massacre the hopes of the chinese people. while communism was gone in europe it was revitalized in the world's largest nation. pyongyang's missile launch awakens us to a fact that communism still casts a long shadow over asia. the nuclear proliveuation threaten not only our allies in the pacific but our own people as well. in asia the cold war never ended an the united states and south korean forces stand guard together on this last frontier. attempts to engage pyongyang over the past four years have been met with repeated prove cage. the kidnapping of two american journalists, repeated missile launches, one more nuclear test, the sinking of a south korean naval vessel with the loss of 46 lives and the shelling of a south korean island. how much more should we endure before we say enough is enough? sweet talking pyongyang only seems to inspire fu

fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy is rebounding more than expected. >> the exports. >> yeah. >> among the catalyst in asia trading today, economic stats out of china. export growths slowed sharply to 2.9% in december. that news j underscores the global headwinds dragging on the economy. but the chinese economy is showing solid signs of a pick up in domestic activity. industrial output was stronger than expected. the country has been saying for years it needs to shift a little bit from the export model the internal consumption. let their middle class grow and not be nearly as dependent on exports. and china's oil demand in november surpassed 10 million barrels per day for the first time ever. the country's crude

last time you liked europe. what about here in the united states? what would you buy here? >> well, i wouldn't buy anything if i haven't bought it already. i would sit around and wait. you've got she nan nanigans goi in washington. there are 535 people who have to think i want to keep my job. they'll decide to rise above. this is all going to be wonderful. in the meantime, if you're trying to figure out which way to go, i have traders out here who will tell you every day very difficult thing to do. >> isn't that the case. for sure. >> sandy, weigh in here. what would you be doing? >> actually i take a little bit different view. this fiscal cliff is a grander issue than just the united states. the drag in the u.s. is a big import to the rest of the world. stock markets are supposed to be leading economic indicators. if you look at the markets around the world from the last several weeks to months, the markets seem to be indicating just the opposite. they seem to be indicating that a deal will get done. what kind of deal whether it's one stage or two stage, nobody knows. but the fact of

job losses. the carmaker is attempting to put the brakes on its losses in europe. the plant shutdown becomes the first for germany since world war ii. italian bond yields headed higher following news that prime minister mario monti plans to resign. monti's reign will come to an end in february, following passage of the 2013 budget. the move raises political concerns over italy in the midst of the eurozone crisis. monti has been credited with keeping italy's debt crisis under control. the japanese economy has some gross domestic problems. japan's gdp has contracted two quarters in a row, signaling it has entered recession. a recent territorial dispute with the chinese government and struggles following last year's tsunami continue to hurt japan's export market. an election next week in japan could have a large effect on fiscal policy. reports say delta is close to landing a deal that will give the airline a 49% stake in virgin atlantic. bloomberg reports talks between delta and singapore airlines, which is looking to sell its stake in virgin, are advancing. the deal is estimated to co

factors going on here too. europe and are drowning in debt. china has a near $3 trillion reserve surplus. you've got demographics. europe and america are aging rapidly. in europe the population is shrinking. there is no such demographic problem in china. you add it all together, debt, demographics and growth rate china is indeed on course to become number one fairly soon. gregg, hold on a second. there is a danger in just extrapolating out from current trends. what's in place will go on forever. we did that with japan 30 years ago. got that one wrong. maybe we shouldn't be extrapolating like this with china. gregg: the other thing that is very conspicuous here is the enormous trade imbalance with china. our trade deficit with china has tripled over the last 10 years. point of fact i just looked it up today. we export 7%. they export 23% to the united states. isn't that a job killer for americans? >> yes it is. there is no question about it. many of the jobs which our fathers and grandfathers had in the united states left a generation ago or 10 years ago, they left for china and that's ba

. (laughter) wink! welcome back to the show. let's turn our focus to europe. remember this fella here over my shoulder there? silvio berlusconi. a billionaire prime minister of italy elected three times even though as they say in rome, he was corrupt. >> the italian prime minister is no stranger to scandal. charges of bribery, corruption and embezzlement. >> officially guilty of tax fraud. >> sentenced to newshour years in prison for tax fraud. >> a serial flanderer. >> tales of lavish orgies. >> notorious all night so-called bunga-bunga parties. paying for sex with an underage prostitute. >> he was saying he could haven't sex with 11 women so instead he had sex with eight women. (laughter). >> jon: a man who had sex with eight women. that's the worst bond villain ever! (laughter) and if you pull one of them off, you just grow back. last november with the italian economy tanking, voters replaced berlusconi with his polar opposite, mario monti, an academic economist who promised to balance italy's books with strict austerity measures. that's not an easy choice. the country basically deciding i

, the stock market is undervalued right now because of all the noise in europe, the fiscal cliff, and china. with that in mind, i think your best bet is to stay near normal valuations for 2013. > there is nothing you want to take off the table right now, right? take some profits home so you don't have to deal with the tax gains issue of next year? nothing? > > put it this way: i would rather be in financials and materials than i would be in energies and utilities. so if you are overweight in energies and utilities, perhaps sell that. i think the best group next year is going to be financials and materials. > run with the banks. good to have you on the show. that is larry shover of sfg alternatives. > > thank you. legislation dramatically shrinking the power of unions has won approval in michigan. last night, governor rick snyder signed two bills into law that change michigan into a right-to- work state. thousands of protestors for and against the measure staged demonstrations inside and outside the capitol in lansing, michigan. despite shouts from pro-union workers, the gop-led house okaye

from lansing. not one worker from europe's biggest bank, hsbc, will far us a criminal charge after they were accuses of failing to guard against terrorists, tax cheat and drug cartels but agreed to pay a record $1.9 billion fine to settle the case. that probably won't hurt this bank at all. last quarter, they reported $2.5 billion in net profit. according to the treasury, the failure to police transactions allowed hundreds of millions of dollars in drug money from mexican cartels to flow into the united states. the feds report the bank broke finance laws when they did business with iran and libya and cuba and others. under their deem with the feds, the bank will pay the record fine, change some policies, but not one bank employee will ever face criminal prosecution. the prosecutors say department of justice officials wanted to bring criminal charges but decided not to not because of a lack evidence but because it would put the future of the largest banks at risk. think of that. not because they didn't have the goods. they were worried about the banking system. this says clearly it

and there is some turmoil over europe's economy and the founder of wikilocations continues to be under siege. en toa krause looks at the year's major world news. >> reporter: terrorists launched a deadly attack on the u.s. consulate in libya on september 11th. ambassador christopher stevens and three other americans were killed. the arab spring triggered civil war in syria. more than 40,000 people died as rebels try to force out dictator assad. u.s. troops are now in neighboring turkey. the muslim brotherhood rose to power in egypt after the country's first free election. but hundreds of thousands are rejecting president morci's iron hand. israeli forces bombed gaza for eight straight days in november. retaliating after hamas militants fired long-range rockets across the border. forensic experts exhumed the body of yasser arafat to try to determine if he was poisoned eight years ago. north korean celebrated the firing of a long-range rocket into orbit. many believe the communist nation is advancing its nuclear technologies. taliban gunmen tried to assassinate a pakistani school girl who spoke out ag

because many companies, high-tech companies from america, from europe, have subsidiaries in china, selling to chinese industries and trading companies. north korea works that system very well to end up with those kinds of high-tech items from outside china. and so while i can't speak specifically on the missile program i certainly can on the nuclear and yes, indeed, north korea buys european high-tech equipment and likely u.s. equipment. so it's a problem. china has been made aware of the problem but they haven't done enough and, i think this missile launch could be a further step. again if it happens, it could be another step in building pressure on china to enforce the u.n. security council sanctions on north korea and in fact to team up with the rest of the world to try to apply stronger sanctions and more effective sanctions on north korea. jon: kim jong-un and his father indicated, they proved time and time again they were more interested in having ballistic missiles and that kind of technology than they were in seeing their people fed. are you convinced that there is a way to impose

surpassed north maeshg and europe combined in terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion dollar card for starbucks. >> this is the question of the surgery. they had a $450 stainless steel elite card. now they're on ebay getting them for maybe $1,000. some is of the bids are up to $1,000. it's collectors item for the to be 1%. these starbucks limited edition gift cards have sparked a frenzy on ebay of people who want to hold on to this. >> it's the perfect gift for people who like to buy overpriced coffee already. >> you get perks, lik

deduction will deteriorate. we are seeing a fiscal drag in europe. i would argue that we should smooth into this drag even more. make policy changes so next year the gdp is half of this speed limit. that would be consistent with extending an emergency program and some form of tax holiday. in terms of the debt ceiling, that needs to be increased. it would be nice to extend it at the next presidential election. it would be nicer to get rid of it altogether. it is anachronistic law that is a problem. it creates a great deal of uncertainty. as you can see, it can do a lot of damage to the economy. there are a lot of reasons why it is being considered to eliminate that ceiling. it should be carefully considered. at the very minimum, we should push this to the other side of the election. we do not want to address the debt ceiling on a regular basis. it is damaging confidence. on fiscal sustainability, we need deficit reduction in the next 10 years of about $3 trillion. to get there, a balanced approach would be $1.4 trillion in tax revenue. half of that would come through tax reform and the

. investors waiting to see what comes out of the fiscal cliff negotiations and in europe, a choppy start to the trading day. investors are waiting for the results of greece's bond buyback program occurs. joe has some of the big corporate news and this one is actually a global corporate story. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money laundering? >> i'm just saying, if you're going to be in business in all these types of markets, isn't this going to happen? >> aren't there sxwier countries that would be probably -- that it would stead if you don't want any business tale. >> was there a fascination in this country about whether you want to indict the whole institution or wha

of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want to draw your attention -- use guys were talking about unions. here's a union story that tells something about the rebalancing in the eurozone. potentially germany. we know with the xetera dax up .3%. and almost 30% this year. investors see if the euro project hangs together, it's going to mean renation in germany. that is some wage inflation, some price inflation. the public sector union verde, powerful union, along with some others with its contract up at the end of the year is asking, guys, for a 6.5% pay rise next year. it got about 2.5% for the last couple of years. it is on the public sector side but also an example of what kind of pay hikes we m

this time on the southern coast of the mediterranean, it's very clear that europe will be vulnerable and indeed we will be worldwide, so it seems to me this is something that we should be involved in, but our friends in europe really have a lot at stake here, too. >> ambassador, we want to also ask you tonight about former vice-president dick cheney's latest remarks. now, last night he blasted president obama's foreign policy in the middle east. here's what he said in part. >> i think certainly in my conversations with many of those people, they no longer believe us. they no longer trust us. they no longer believe they can count on the united states of america to do what we did 20 years ago. our allies no longer trust us or have confidence in us and our adversaries no longer fear us. the president can make bold statement and bold talk as he did in the last couple of days but development in syria, but i don't think they care. > >> greta: ambassador, what do you think about the former vice-president's mark? >> sadly, i think he's on target. i don't think the administration has credibil

job. >> the new year just around the corner, and while our next guest expressed concern for europe in 2012, this year his focus for next year is now on the united states. just what should investors expect, you ask? >> let's ask ethan harris who joins us with his outlook from 2013. >> welcome back, ethan. >> how does the next year look to you? >> well, i think it's going to be a very slow start. i mean, this fiscal cliff discussion you're having right now illustrates why there's a high risk of a messy outcome with both parties fluilibusteri here. i think we'll start out with weak from the shock of the cliff and austerity measures and i think things will get better in the secretary half once we get past the initial shock, but it's going to be another choppy years. >> the bulls join us often here, ethan. their point is this is such an undervalued market and there's so much cash sitting out there that any deal would be sort of a relief for the markets and get corporations back to capital expenditur expenditures, back to hiring and maybe a bump in the economy. i sense that you don't fee

just have to look at europe where they have all these kind work rules, like you mentioned this vacation do over. she's a new european thing. >> steve: how does that work? >> i have a doctor's note, i got sick on vacation. by law, i'm allowed to compensatory vacation time for that. >> steve: let's say you're gone for two weeks and say i was sick, you get another two weeks? >> exactly. or how about severance pay. that sounds kind. you got to pay people if you fire them. in spain, the old rule was 3 1/2 years. so nobody is going to hire somebody 'cause if you don't like them, you got to pay them for more than 3 years. >> steve: it wasn't progressive. so if you had just been an employee for a certain number of years or something like that, you get an automatic 3 1/2 year severance? >> no, it doesn't take effect unless you've worked there for a year. so lots of people -- >> steve: wait a minute. you work there one year? >> that's right. now they've shortened. they'll only have to pay $200,000. no wonder spain has a 25% unemployment rate and they're rioting. >> steve: what about what the gove

it should be for adapting the paa that is in europe into asia? because leaders here said they would like to do some sort of paa in asia. >> you ask a lot of questions in there. [laughter] well, let me talk about the sbx in general. you know, the sbx was billed as a research and develop a platform. it wasn't designed to be in a long-term ballistic missile defense architecture. still has a benefit in research and development, but since it was built in my estimation is that the overall sophistication of the capabilities have grown, and has grown globally so that the need to have sbx in that role has diminished over time because of the capabilities -- other capabilities are mature enough to be able not to have it. as far as the ability for the interceptors to be productive, i think it to look across all of technologies as we pursue in bmd, and recognize the significant technological challenges that have been associated with that program, and really i think, in the timeframe that we have had to develop these systems, i think we have done the technological part of this ballistic missile defens

right now, europe the in a terrible recession. you've got huge problems or bigger problems in asia than we thought we were going to have. if we can get this right in the first half of the year, i don't think it will happen before the end of the you near. if we can do this right, we can bring in more revenue and reduce our costs and reduce what we're paying out to bring our debt into balance. i think it is a huge tunts for america that around the globe will make us proud and crealt jobs. it is tough but it is an opportunity and if the president gets it right, chi believe he will, we have a huge ability to see and acknowledge that revival that we've been waiting for. >> let me follow-up on the specific point on the affordable care act. this letter sentsdz by a republican governor. many of these ideas and combha that is what the republican governors said, indicating it should be up to the states to taylor their programs when it comes to implementing the affordable care otherwise known as the obamacare. should states have the flexibility? >> yes, that is what the president has said within r

of gravity is shifting toward asia but away from europe and not away from the united states. that argues for the posse the administration has adopted cultivating those relationships. with trade and investment opportunities. we do that. it is the right thing to do. >> when union shows power and influence of drug use and to get liquor up at work. caught on video. and navy pacific fleet commander tomorrow. the "a team" will assess all of that. silence from the president and speaker boehner of their negotiations. stay with us. ♪ [ engine revs ] ♪ ♪ [ le announcer ] the mercedesenz winter event is bk, with the perfect vehicle that'sust righfoyou, no matter which list you'r on. [ santa ] ho, ho, ho, ho! [ male announ] leasa 2013 ml350 f $599 a month at your local mercedes-benz deale time for citi price rewind. because your daughter really wants that pink castle thing. and you rlldon't want topay re than you have to. nly citi price rewind automatically searches for the lowest pre. and if it findone, you get refunded the difference. just use your citi card and register your purchase onli.

prosecution of europe's largest bank might destablize the global system. >>> that closes the books on the biggest bailout. the government's 16% stake is worth almost $8 billion. >> made a profit off of that deal. >>> thanks to the surge in online shopping, shipping services expecting a record-setting year. a record number of packages are in the fedex pipeline after its busiest shipping day ever. abc news got a special look inside its global hub in the city of memphis. by yesterday afternoon, more than 19 million packages had been shipped. 10% more than the busiest day last year. business is up. >> mind-boggling. >>> facebook and gmail seem to be all right this morning. but both services had brief outages. some users had problems with google calendar and documents for about an hour. there's no word from google about the cause. facebook said it changed a web address. that outage lasted 20 long minutes. >>> and pepsi's latest global partner is my girlfriend, beyonce. beside her appearance at the pepsi halftime show at the super bowl, the singer will appear on everything from soda cans

cannot the other way around. and this makes as special among the nations of europe. our government has no power, expt that granted it by the people. it is time to check and reverse the growth of govenment, which shows signs of having grown beyond the consent of the governed. it is my intention to curb the size and influence of the federal establishment and to demand recognition of the distinction between the powers granted to the federal government and those reserves to the states or to the people. [applause] lou: reagan's original february 1981 plan proposed in that speech, enough cuts to bring spending down to 19 percentnt of gdp by 1984 ando balance the budget. the federal government started the 2013 budget year with a $292 billion deficit in the first two months. the nation not exactly on incorrect path to what was the reagan vision three decades ago. >> this is what democracy looks like. lou: a union demonstration turned violent. michig state pro worker law cutting in to union dues. unions don't like it. one of their state legislativ supporters says, there will be blood. we will s

. too bad nobody told the navy. student loan debt is a tremendous. they do it in europe that could get a lot of kids out of hot water. they have the number two country hit in the country. that's on this thursday on "fox & friends" starting in 12 minutes. take effect in january. >> the number of americans on food stamps is up 39 percent since president obama took office. should cutting that program be part of the discussion about the to 47.7 million. >> it is a guaranteed thing. it's an entitlement program. that means if you meet the income qualifications the government must give you the money whether the government has any money to give you or not. if they don't they have to borrow it. >> that's right spending on food stamps which hit nearly $75 billion in fiscal year 2012 is currently nonnegotiable. it is exempt from sequestration should it quick in. it is not on the table as part of the efforts to negotiate closing the growing gap between revenue and spending. the u.s. department of agriculture which administers the program said quote the increase in precipitation during the 2008 to

in eastern and central europe that are struggling to not only become members of the european union, but to join the north anti-ic treaty organization because they -- atlantic treaty organization because they are still seek a chance to be free from that kind of repression. i'm reminded what took place during the 2008 olympics, summer olympics, in georgia when we saw the incursion from putin's russia into georgia over the break away regions, and we continue to see lots of threats. it is a very dangerous world. very dangerous world. tragically, plato said only the dead have seen the end of war. and i remember this, we saw the demise of the soviet union, the kremlin, berlin wall, many of us did believe, and it was famously wrote about the end of history believing that political pluralism, rule of law, and self-determination, and democratic institutions would thrive all over the world. well, it hasn't quite worked out that way in the last couple of decades. and we all know what the consequences of those threats have been for the first time ever. we had the kind of attack we did on septe

're seeing a spike in vix futures. it's indicating more volatility ahead. europe, largely taking the cues from here in the united states, and the news last evening about plan b. we are seeing a 1% loss in italy, germany is down by .9%. >> of course, futures as you saw are taking a hit on concerns that a deal will not be reached to avert that fiscal cliff. an attempt by house speaker boehner to avoid that class and pass the so-called plan b tax bill. that failed. the measure that would have kept current tax rates for those making less than $1 million a year. it never even made it to the house floor. speaker boehner is scheduled to hold a news conference about an hour from now. of course, we'll bring that to you live. >> here we are. >> here we are once again. >> there was no real plan b. there was no real possibility of this. the republicans, the vast majority signed a pledge, they will not vote for tax increase. who would think they would suddenly turn around and vote for a tax increase. they pledged not to. >> the speaker said they might. >> i don't care. >> unless it's some sort of a pl

of the next 10, 15 and 20 years. some people look to europe and say austerity there is not working. and i agree. an austerity program that's too quick can only make our problems worse. but i also see parts of europe that said by kicking the can down the road they can ignore their problems. and the only thing worse than austerity is the bond markets forcing a crisis upon your economy, forcing a crisis that would make a divide between spending and revenues more unsustainable. if we wait 3 years, 5 years, 10 years, 12 years from now we will be unable to safely deal with these problems. that's why we need a balanced and responsible deal now. after the election, many of my colleagues, particularly those on the republican side, have sort of publicly acknowledged that we need new revenue, has to be part of the solution. i believe even some of the numbers the president put forward in terms of revenue goals are too modest in terms of of what is needed to be put back into the revenue stream not to grow the size of government but to simply pay our bills. it is critically important that this new reve

, our former colleague, literally were wounded at about the same time in europe and were in the same hospital recovering from tremendously serious wounds. senator inouye, of course, later was awarded the congressional medal of honor for that. senator pryor was telling the story that when senator inouye was finally elected to congress he wrote senator dole a note and said, "i'm here. where are you?" because both of them, when they were recovering from their war wounds, had determined that one day they wanted to serve in the united states congress. inouye got here first. a few years ago senator inouye and senator ted stevens invited a number of us to go with them to china. it was quite an experience. senator stevens -- of course, another world war ii veteran -- had flown the first cargo play plane into what was then peking in 1974. and senator inouye was well-regarded in china for that service. and so the group of norse -- there must have been -- and so the group of norse -- ther of se must have been a dozen of us -- got together with the leaders of china. we were accorded every courte

while high while illegal research shows more drivers are toking up. studies like this one in europe show too much marijuana affects coordination and judgment. >> a reduced ability to divide one's attention. >> reporter: marijuana advocates argue marijuana is less debilitating than alcohol. but a new study shows those who drive within 3 hours of smoking pot are at a greater risk of causing a crash. >> it inhibits the ability to jump the judge time and distance. >> reporter: in state where marijuana is legal, the level is 5 man or grams. the impairment some argue is equal to alcohol. >> it's difficult to determine whether that five nanograms will change. >> reporter: heavy users though not impaired can test positive weeks after smoking. also what you smoke and how you smoke it affects people differently. even experts don't know how much pot causes impairment. >> two dosages would give me 5 nanograms. it's impossible to make that determination. >> reporter: the bottom line is this is going to be litigated. the pot people want it at 10 nanograms and it's at 5. megyn: coming up. how does amer

, human rights and democracy across europe for the past six decades. not everyone agreed to this because it is in the middle of a financial crisis that's led to several protests and some say this contra tickets the values of the prize because it relies on military force to secure security -- to ensure security. >>> president obama is heading to michigan to meet with auto workers. the president wants the auto workers to avoid the fiscal cliff. >> reporter: dave, president obama is today continuing his push for more public support. he's talking about what will happen to the auto industry if the country falls off the fiscal cliff. let's take a live look now. the president's motorcade is expected to arrive any minute now, then he will be heading to detroit. there's some new hope for a deal after the president and house speaker john boehner held their first one-on-one meeting at the white house in weeks yesterday. now, both sides are mumm about the negotiations -- are mum about the negotiations but say the lines of communications are open. they have 20 minutes to reach an agreement even if th

as well. talking about the banking giant hsbc, europe's largest, have to pay $2 billion to settle investigation by u.s. prosecutors who are looking into international drug money laundering. investigators say the bank ignored rules that could have stopped this laundering operation, that the money went to drug cartels and terrorists. jim bolden is joining us london. what happened? >> reporter: well, suzanne, this is interesting. all of these banks have been fined by the u.s. government over last few years but hsbc, by far, the biggest. this fine, as you say, $1.9 billion. the government says that this bank has not been complying with u.s. laws when it comes to finding out where the money is going to, where the money's come from. u.s. government says there s too much money coming from mexico for hsbc not to know between 2006 and 2009, that it must have been coming from money laundering from drug cartels. they say they have put now measures in place so it wouldn't happen again. >> why are we seeing problems with or european banks as well? huge international fine -- these fines on inte

: the waft is sweeping europe and soon to be on our shores. at juniper kitchen restaurant in ontario, he creates a revolutionary eating experience. show us how it's done. >> since you said you like mint chocolate chips, we're going to do that. so just straight, raw ingredients. mint and cocoa mint, put these together, a little syrup. a little chocolate. we're going to strain all that out. let's see what happens. there's the straw. >> reporter: it's like an ice cream cloud. with endless flavor combinations, he can turn any meal into a culinary quiz show. let's see if you can trip me up. >> this one might stump you. >> cherry? >> no. >> reporter: raspberry. >> that's it. >> reporter: round two, here we go. >> classic cocktail. you almost got it. >> reporter: is this a mojito? >> yes, it is. >> reporter: and i'm cuban and it took me that long to get that one. >> our hold friend tonya rivero. i still got to chew. i don't know about you. >> i don't know if he makes a potato chip vapor. >> i'm still going for it, though. >> you can still inhale those. >> that's how charlie sheen eats. >>> this

in europe on the big 75% tax rate that the french wanted to pass for the rich. >> the breaking news that a french court said a 75% tax rate on individuals is unfair. so it has been rejected. the court court says unless you apply it to households it is not fair to single out individuals. that means 75% tax at this moment is not in effect. the french government and francois hollande says, it won't make any difference. we'll rewrite the law using new wording and we'll catch more people in the 75% tax rate net. heather: stuart varney, i know you have a lot of work to do today. it is a busy day financially. thank you. >> thank you. gregg: what will it mean if lawmakers fail to strike a deal? according to the tax policy center 90% of the americans would see a tax hike in 2013. 121 million people will be paying a whole lot more in payroll taxs. those are social security payroll taxs. families making between 40 and $65,000 a year will have to pay an extra two grand to the u.s. government. the more you make, boy, that number really accelerates. heather? heather: another devastating blow in t

Excerpts 0 to 66 of about 186 results.

Click for
next 100 results
(Some duplicates have been removed)


Terms of Use (10 Mar 2001)